| WorldCatch, an online destination for the seafood industry will soon be practicing what it preaches. This comes as the Seattle-based company has signed a letter of intent to acquire American Gem Seafoods, Inc., a seafood marketing company with annual sales of approximately $100 million.
"The seafood industry is optimistic about the future role of technology and is looking for proven solutions," says Jim Hilger, CEO of WorldCatch. "The acquisition of American Gem will give WorldCatch the opportunity to demonstrate to the industry how technology applications can enable business to be conducted more quickly and efficiently with less risk than through traditional means."
Under the terms of the transaction, WorldCatch will acquire certain assets, assume trade liabilities, and absorb American Gem's operations.
American Gem's parent company will take an ownership position in WorldCatch and will join the Board of Directors following the completion of the acquisition. The combined company will operate as WorldCatch and will continue to be headquartered in Seattle.
American Gem Corporation announces 12.3 million carat increase in ::
WIRE)--March 14, 1995-- American Gem Corpora : Encyclopedia.com yesterday to acquire American Gem Seafoods, a seafood importer and exporter with
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WorldCatch.com to Acquire American Gem Seafoods